Michigan’s University Research Corridor (URC) today announced researchers at the University of Michigan, Michigan State University, and Wayne State University collectively spent $1.2 billion on life, medical, and health sciences research in 2015.
The report, “Leading Discovery: URC Contributions to the Life, Medical, and Health Sciences,” discusses the importance of research and the direct impact the initiatives have had on Michigan residents’ lives and the economy.
The report specified that U-M, MSU, and WSU are responsible for 95 percent of all academic R&D in Michigan within the health, life, and medical sciences, and that URC research funding is translating to commercialization success. From 2012-2016, the URC reported 1,348 inventions, 380 U.S. patents issued, 433 new license agreements, 32 new startup companies, and $142 million in royalties issued.
“The URC is a national power and an important source of talent when it comes to the life, medical, and health sciences,” says Jeff Mason, URC executive director. “There are few places in the world able to conduct the types of research that occur at our institutions, and we are proud to support the continuation of such groundbreaking and historically important studies.”
The science industry has proven to be a key employer statewide, with employment throughout the industry increasing 18.9 percent compared to mid-2000s levels. Between 2011 and 2015, the industry added 21,000 jobs.
In addition, the report indicates that the sciences were one of the only sectors that experienced growth during Michigan’s economic downturn in the mid-2000s, and the URC universities continue to further the science sectors by working to find cures for debilitating illnesses, developing new pharmaceuticals, leveraging technology to develop treatments, increasing the security of the food supply, and ultimately improving the health and quality of life for people in Michigan and around the world.
A full version of the report can be viewed here